Public Employees Retirement System of Ohio Has $79.28 Million Holdings in Corning Incorporated $GLW

Public Employees Retirement System of Ohio lifted its stake in Corning Incorporated (NYSE:GLW - Free Report) by 19.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 310,399 shares of the electronics maker's stock after acquiring an additional 50,421 shares during the period. Public Employees Retirement System of Ohio's holdings in Corning were worth $79,285,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of GLW. State Street Corp raised its position in shares of Corning by 1.2% during the third quarter. State Street Corp now owns 37,008,856 shares of the electronics maker's stock valued at $3,035,836,000 after buying an additional 439,883 shares during the last quarter. Geode Capital Management LLC increased its stake in Corning by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 20,411,824 shares of the electronics maker's stock valued at $1,781,250,000 after acquiring an additional 517,067 shares during the period. Bank of America Corp DE raised its holdings in Corning by 29.2% in the 2nd quarter. Bank of America Corp DE now owns 18,730,616 shares of the electronics maker's stock valued at $4,784,361,000 after acquiring an additional 4,231,507 shares in the last quarter. Capital Research Global Investors raised its stake in shares of Corning by 52.7% in the fourth quarter. Capital Research Global Investors now owns 16,890,802 shares of the electronics maker's stock valued at $1,478,959,000 after purchasing an additional 5,831,873 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its stake in shares of Corning by 8.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 13,763,148 shares of the electronics maker's stock valued at $724,432,000 after buying an additional 1,036,988 shares in the last quarter. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Corning Stock Down 0.0%

Shares of GLW opened at $152.72 on Friday. The business's fifty day moving average price is $172.11 and its two-hundred day moving average price is $164.71. The firm has a market capitalization of $131.55 billion, a price-to-earnings ratio of 69.73, a PEG ratio of 1.96 and a beta of 1.14. Corning Incorporated has a 52 week low of $66.14 and a 52 week high of $271.78. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.24 and a current ratio of 1.81.

Corning (NYSE:GLW - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.02. The business had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.63 billion. Corning had a return on equity of 20.09% and a net margin of 11.20%.The firm's revenue for the quarter was up 17.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.60 earnings per share. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. On average, analysts predict that Corning Incorporated will post 3.27 earnings per share for the current year.

Corning Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, August 31st. Corning's dividend payout ratio (DPR) is 51.14%.

Insider Activity at Corning

In other news, CEO Wendell P. Weeks sold 100,000 shares of Corning stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $186.46, for a total transaction of $18,646,000.00. Following the completion of the sale, the chief executive officer owned 908,353 shares in the company, valued at $169,371,500.38. The trade was a 9.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.25% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Barclays lowered their target price on shares of Corning from $180.00 to $129.00 and set an "equal weight" rating on the stock in a research note on Wednesday, July 29th. JPMorgan Chase & Co. lowered their price objective on Corning from $200.00 to $170.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 29th. Citigroup cut their target price on Corning from $240.00 to $220.00 and set a "buy" rating for the company in a research report on Wednesday, July 29th. Bank of America lifted their price target on shares of Corning from $223.00 to $243.00 and gave the company a "buy" rating in a report on Monday, July 6th. Finally, Morgan Stanley cut their price objective on Corning from $180.00 to $165.00 and set an "equal weight" rating for the company in a research report on Wednesday, July 29th. Ten investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $174.08.

Corning Company Profile

Corning Incorporated is a global manufacturer specializing in specialty glass, ceramics and related materials and technologies. Headquartered in Corning, New York, the company supplies engineered materials and components used across multiple industries, including consumer electronics, telecommunications, automotive emissions control, pharmaceutical and life sciences, and industrial and scientific applications. Corning emphasizes materials science and precision manufacturing to develop durable, high-performance glass and ceramic products.

Key product lines include specialty display glass used by television and mobile-device manufacturers, cover glass marketed under well-known trade names for smartphones and tablets, and optical fiber and cable and related hardware for telecommunications networks.

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